Report Update Apr 20, 2024

Nigeria - NPK Fertilizers - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Npk Fertilizer Market 2024

Npk Fertilizer Market Size in Nigeria

For the third year in a row, the Nigerien NPK fertilizer market recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption recorded a deep reduction. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market failed to regain momentum.

Npk Fertilizer Exports

Exports from Nigeria

In 2023, approx. X tons of mixed nitrogen, phosphorus and potassium (NPK) fertilizers were exported from Nigeria; with an increase of X% compared with the year before. Over the period under review, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in years to come.

In value terms, NPK fertilizer exports soared to $X in 2023. In general, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Burkina Faso (X tons), Sierra Leone (X tons) and Togo (X tons) were the main destinations of NPK fertilizer exports from Nigeria, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Sierra Leone ($X) emerged as the key foreign market for mixed nitrogen, phosphorus and potassium (NPK) fertilizers exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to Sierra Leone amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Togo (X% per year).

Export Prices by Country

The average NPK fertilizer export price stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the export price saw a prominent expansion. The pace of growth was the most pronounced in 2013 an increase of X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Benin (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Npk Fertilizer Imports

Imports into Nigeria

In 2023, the amount of mixed nitrogen, phosphorus and potassium (NPK) fertilizers imported into Nigeria declined notably to X tons, with a decrease of X% against the previous year's figure. In general, imports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2016 when imports increased by X%. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, NPK fertilizer imports reduced dramatically to $X in 2023. Overall, imports showed a drastic downturn. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

The UK (X tons), Israel (X tons) and Lithuania (X tons) were the main suppliers of NPK fertilizer imports to Nigeria, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Israel ($X) and Lithuania ($X) were the largest NPK fertilizer suppliers to Nigeria, with a combined X% share of total imports.

The UK, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average NPK fertilizer import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price recorded a pronounced decrease. The pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

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This report provides an in-depth analysis of the npk fertilizer market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4021 - NPK fertilizers

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023